MIRA INFORM REPORT
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Report No. : |
314984 |
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Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL DINING INC |
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Registered Office : |
Column Minami-Aoyama 8F, 7-1-5 Minami-Aoyama Minatoku Tokyo 107-0062 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
October 1973 |
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Legal Form : |
Limited Company |
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Line of Business : |
Restaurants operator: Italian dishes (29%), Mexican & American dishes (4%), Asian dishes (26%), Japanese foods (27%), other International dishes (8%), others (6%) |
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No. of Employees : |
340 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 433.5 Million |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry
cooperation, a strong work ethic, mastery of high technology, and a
comparatively small defense allocation (1% of GDP) helped Japan develop a technologically
advanced economy. Two notable characteristics of the post-war economy were the
close interlocking structures of manufacturers, suppliers, and distributors,
known as keiretsu, and the guarantee of lifetime employment for a substantial
portion of the urban labor force. Both features are now eroding under the dual
pressures of global competition and domestic demographic change. Since the
complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami
disaster in 2011, Japan's industrial sector has become heavily dependent on
imported raw materials and fuels. A small agricultural sector is highly
subsidized and protected, with crop yields among the highest in the world.
While self-sufficient in rice production, Japan imports about 60% of its food
on a caloric basis. For three decades, overall real economic growth had been
spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4%
average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%,
largely because of the after effects of inefficient investment and an asset
price bubble in the late 1980s that required a protracted period of time for
firms to reduce excess debt, capital, and labor. Modest economic growth
continued after 2000, but the economy has fallen into recession four times
since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the
ensuing tsunami in March disrupted manufacturing. A sales tax increase caused
the economy to contract during the 2nd and 3rd quarters of 2014. The economy
has largely recovered in the three years since the disaster, but reconstruction
in the Tohoku region has been uneven due to labor shortages. Prime Minister
Shinzo ABE has declared the economy his government's top priority; he has
overturned his predecessor's plan to permanently close nuclear power plants and
is pursuing an economic revitalization agenda of fiscal stimulus, monetary
easing, and structural reform. Japan joined the Trans Pacific Partnership
negotiations in 2013, a pact that would open Japan's economy to increased
foreign competition and create new export opportunities for Japanese
businesses. Measured on a purchasing power parity (PPP) basis that adjusts for
price differences, Japan in 2014 stood as the fourth-largest economy in the
world after second-place China, which surpassed Japan in 2001, and third-place
India, which edged out Japan in 2012. The government will continue a
longstanding debate on restructuring the economy and reining in Japan's huge
government debt, which amounts to more than 240% of GDP. To help raise
government revenue and reduce public debt, Japan decided in 2013 to gradually
increase the consumption tax to a total of 10% by 2015, although the government
in 2014 decided to postpone the final phase of the increase until 2017 to give
the economy time to recover from the 2014 increase. Japan is making progress on
ending deflation due to a weaker yen and higher energy costs, but reliance on
exports to drive growth and an aging, shrinking population pose other major
long-term challenges for the economy.
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Source
: CIA |
Company
name
GLOBAL
DINING INC
REGD
NAME
KK Global Dining
MAIN
OFFICE
Column
Minami-Aoyama 8F, 7-1-5 Minami-Aoyama Minatoku Tokyo 107-0062 JAPAN
Tel:
03-5469-3223 Fax: 03-3407-0779
*.. The is its
restaurants in Osaka -
URL: http://www.global-dining.com
E-Mail address: (thru the URL)
ACTIVITIES: Operator
of Japanese & Western restaurants
BRANCHES: 48
restaurants in Tokyo & Osaka
OVERSEAS: California
(USA) operating 3 restaurants
CHIEF EXEC: KOZO
HASEGAWA, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 10,198 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 1,472 M
TREND UP WORTH Yen
4,242 M
STARTED 1973 EMPLOYES 340
COMMENT: RESTAURANT OPERATOR FINANCIAL SITUATION COSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 433.5 MILLION, 30 DAYS NORMAL TERMS
Unit: In Million Yen
Forecast figures for the 31/12/2015 fiscal term.
HIGHLIGHTS
This company is engaged in operation of Japanese & Western restaurants mainly in Tokyo Metropolitan area. Excels in development of restaurant categories including “Café La Boheme”. Features restaurant management with global concept. Also engaged in wedding & partying businesses. .
FINANCIAL
INFORMATION
The sales volume for Dec/2014 fiscal term amounted to Yen 10,198 million, a 6.7% down from Yen 10,932 million in the previous term. Operations plunged into the red to post Yen 74 million recurring loss and Yen 338 million net losses, respectively, compared with Yen 234 million recurring profit and Yen 385 million net profit, respectively, a year ago.
For the current term ending Dec 2015 the recurring profit is projected at Yen 165 million and the net profit at Yen 137 million, respectively, on a 1.2% fall in turnover, to Yen 10,076 million.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 433.5 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Oct 1973
Legal Status: Limited
Company (Kabushiki Kaisha
Authorized: 16,896,000 shares
Issued: 10,052,600
shares
Sum: Yen
1,472 million
Major shareholders (%): Kozo Hasegawa (62.6), Spacelab Co (7.8), Hasegawa International Trade (6.2), Furudate Atsushi (1.0), Hiroshi Honda (0.4), Koichi Inoue (0.4), Matsui Securities (0.2), Employees’ S/Holding Assn (0.2), Masayuki Sakuma (0.2), Tsunemaro Kobayashi (0.2); foreign owners (6.7)
No. of shareholders: 3,213
Listed on the S/Exchange (s) of: Tokyo (No.2 section)
Managements: Kozo Hasegawa, pres;
Yuko Yamashita, dir; Tsunemaro Kobayashi, dir; Michael Nishi, dir
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Restaurants operator: Italian dishes (29%), Mexican & American dishes (4%), Asian dishes (26%), Japanese foods (27%), other International dishes (8%), others (6%)
Clients: Consumers
No. of accounts:
Unavailable
Domestic areas of
activities: Tokyo & Osaka
Suppliers: [Mfrs, wholesalers] Mitsui Foods, Ebisho,
other
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Shizuoka Bank
(Shinjuku)
MUFG (Aoyama)
Relations:
Satisfactory
FINANCES
(In Million
Yen)
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FINANCES: (CONSOLIDATED IN MILLION YEN) |
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TERMS ENDING: |
31/12/2014 |
31/12/2013 |
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INCOME STATEMENT |
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Annual Sales |
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10,198 |
10,932 |
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Cost of Sales |
9,468 |
9,832 |
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GROSS PROFIT |
730 |
1,099 |
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Selling & Adm Costs |
882 |
929 |
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OPERATING PROFIT |
-151 |
170 |
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Non-Operating P/L |
77 |
64 |
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RECURRING PROFIT |
-74 |
234 |
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NET PROFIT |
-338 |
385 |
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BALANCE SHEET |
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Cash |
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970 |
1,220 |
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Receivables |
340 |
351 |
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Inventory |
199 |
210 |
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Securities, Marketable |
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Other Current Assets |
138 |
120 |
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TOTAL CURRENT ASSETS |
1,647 |
1,901 |
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Property & Equipment |
4,668 |
4,869 |
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Intangibles |
17 |
8 |
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Investments, Other Fixed Assets |
1,388 |
1,441 |
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TOTAL ASSETS |
7,720 |
8,219 |
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Payables |
398 |
415 |
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Short-Term Bank Loans |
251 |
257 |
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Other Current Liabs |
771 |
735 |
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TOTAL CURRENT LIABS |
1,420 |
1,407 |
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Debentures |
670 |
1,360 |
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Long-Term Bank Loans |
735 |
348 |
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Reserve for Retirement Allw |
25 |
26 |
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Other Debts |
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627 |
660 |
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TOTAL LIABILITIES |
3,477 |
3,801 |
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MINORITY INTERESTS |
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Common
stock |
1,472 |
1,472 |
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Additional
paid-in capital |
2,127 |
2,127 |
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Retained
earnings |
711 |
1,055 |
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Evaluation
p/l on investments/securities |
5 |
6 |
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Others |
(70) |
(233) |
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Treasury
stock, at cost |
(3) |
(9) |
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TOTAL S/HOLDERS` EQUITY |
4,242 |
4,418 |
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TOTAL EQUITIES |
7,720 |
8,219 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/12/2014 |
31/12/2013 |
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Cash
Flows from Operating Activities |
|
167 |
321 |
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Cash
Flows from Investment Activities |
-188 |
736 |
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Cash
Flows from Financing Activities |
-315 |
-388 |
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Cash,
Bank Deposits at the Term End |
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970 |
1,220 |
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ANALYTICAL RATIOS Terms ending: |
31/12/2014 |
31/12/2013 |
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Net
Worth (S/Holders' Equity) |
4,242 |
4,418 |
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Current
Ratio (%) |
115.99 |
135.11 |
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Net
Worth Ratio (%) |
54.95 |
53.75 |
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Recurring
Profit Ratio (%) |
-0.73 |
2.14 |
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Net
Profit Ratio (%) |
-3.31 |
3.52 |
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Return
On Equity (%) |
-7.97 |
8.71 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.35 |
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1 |
Rs.93.10 |
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Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.